Friday Nov 15, 2024
Friday Nov 15, 2024
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NPP Presidential candidate Anura Kumara Dissanayake
National People’s Power (NPP) Presidential candidate Anura Kumara Dissanayake has assured Sri Lanka’s business community that his party will prevent any further collapse of the current economy.
Addressing concerns about rivals attempting to create fear and panic about an economic downturn if the NPP comes to power, Dissanayake said the party’s first promise is to prevent any further collapse of the existing economic situation. He emphasised that the party’s consensus with the people is to stabilise, strengthen, and advance the economy.
Dissanayake made this pledge at the NPP’s National Business Forum, held at the Monarch Imperial in Sri Jayawardenepura Kotte on Tuesday. The event was attended by a large number of Sri Lankan business people from both within the country and abroad, as well as foreign investors, professionals, academics, and other stakeholders.
The NPP Presidential candidate noted that, for the first time in Sri Lanka’s history, the economy is at the centre of political and election debates. He remarked that the economic collapse has compelled both citizens and political forces to engage in a meaningful discussion about economic issues. He said in response, the NPP is now presenting its economic policies for public review ahead of the election.
“There are claims being spread that the economy will collapse if the NPP comes into power. Some are even attributing the downturn of the stock market to the NPP’s rising popularity,” the NPP leader remarked.
Recalling the NPP’s difficult political journey to date, Dissanayake noted this is the first time for the group where political victory is within their reach.
“We saw how the President had to flee after just two years due to the people’s response to the economic crisis. Having worked for a long time with a clear political purpose, would we create a situation where we have to flee in six months? The Supreme Court has already ruled that the President, the Prime Minister, the Finance Minister, the Secretary of the Finance Ministry, and the Governor of the Central Bank at that time were responsible for the collapse of the economy. When such a decision has been made against a President, would we follow steps that would make us guilty in the Supreme Court? Never,” he said.
The NPP leader also said his party has no intention to clinch victory through popular slogans or promises. “We deeply understand the seriousness of an economic collapse. There is absolutely no room for making instant changes in this economy. Even a minor adjustment in this tightly woven economic structure can be disastrous. That is why, in the National People’s Power, we carefully consider the consequences of even the smallest changes. We are a political camp that is both accountable and responsible,” he said.
“All our international economic relations are tied to the International Monetary Fund. Bilateral debt transactions, multilateral debt transactions, sovereign bonds, and more are all linked with the IMF. Therefore, anyone considering a unilateral withdrawal from the program is neglecting their responsibility to the country and its people. We guarantee that we will never unilaterally withdraw from the IMF,” he said.
Instead, the NPP leader said a Government under his leadership will seek the most suitable path while adhering to the parameters set by the IMF that are not detrimental to the country. “Our approach is not aimed at causing a collapse. Therefore, we urge the President not to spread unnecessary fear,” he emphasised.
Dissanayake said, while the party will seek support from the Central Bank, it will not use the institution to achieve political objectives. He acknowledged the importance of responsible management of public enterprises, emphasising that sectors such as energy, financial markets, and those directly related to national security should have a significant Government role due to their sensitivity and impact on the economy. However, he clarified that the Government should not be involved in profit-driven businesses.
He said NPP has identified which areas should be maintained by the Government and which should be relinquished. He also highlighted the need for a robust regulatory authority to ensure the continuous provision of essential goods and services to citizens at fair prices and with proper standards and noted that the Government is committed to strengthening such an institutional framework.
The NPP leader highlighted that the restrictive nature of the country’s Governance structure, ordinances, and political authority has created significant economic blockages, preventing true economic freedom. He pointed out that while Sri Lanka had export earnings of $ 316 million in 1950 compared to South Korea’s $ 25 million, today, Sri Lanka’s export income stands at $ 12 billion, whereas South Korea’s has skyrocketed to $ 685 billion — nearly 50 times more. He questioned why Sri Lanka remains stuck at a per capita income of around $ 3,800, attributing it to decades of stagnation caused by bribery, corruption, and the failure to steer the economy according to a national plan. He said this has led to uncertainty among investors, who find themselves in doubt each time a new budget is announced. Entrepreneurs, who should be making decisions based on economic forecasts, are instead forced to rely on unpredictable advice, creating fear and instability in the business community.
The NPP leader emphasised the importance of aligning economic activities with national objectives and identifying key sectors where the Government should provide robust infrastructure and support. He stressed the need for a well-coordinated public service, where Government services are integrated to function efficiently rather than being scattered. He said outdated laws will be revised, and a conducive environment will be created to propel the economy forward. He noted that without significant economic growth, aspirations to advance the country will remain unfulfilled, and urged investors to take on the pilot role in driving this progress, assuring them of the Government’s commitment to safeguarding their investments.
Dissanayake said in return the Government will seek no favours from the business community. “As politicians, we have our own needs, and as entrepreneurs, you have yours. For the first time in this country’s history, let’s create a Government where the goals of politicians and entrepreneurs are aligned. A Government led by the NPP means that all of us, politicians and entrepreneurs alike, can work together as one force to build this country,” he said.
Attendees of the NPP forum included D. Samson and Sons Ltd. Emeritus Chairperson Deshamanya Nandadasa Rajapaksa, John Keells Holdings PLC Chairperson Krishan Balendra, CIC Holdings Chairperson Deshamanya Sohli Captain, Ceylon Chamber of Commerce Chairperson Duminda Hulangamuwa, National Chamber of Commerce President Deepal Nelson, Chamber of Young Lankan Entrepreneurs President Thushira Radella, Sri Lanka United National Businesses Alliance Chairperson Tania Abeysundara, Jetwing Symphony/Lighthouse Hotel PLC Hiran Cooray and many other business leaders.
